Franklin is 24-15 in three years at Vanderbilt, leading the Commodores to three straight bowl games for the first time in the school's history. He has led Vandy to back-to-back nine-win seasons in the past two years after the Commodores had posted nine wins only twice previously -- and none since 1915.

The Nittany Lions have also reportedly interviewed former Tennessee Titans head coach and Penn State alum Mike Munchak. They are seeking to replace Bill O'Brien, who led Penn State to become head coach of the NFL's Houston Texans.

Vanderbilt athletic director David Williams told CBS Sports that he'd spoken with Franklin twice on Monday and Penn State was not brought up.

"I expect James to be our football coach. I'm planning on it," Williams told CBS. "We looking at facilities. We're working on some stuff. I have all thoughts that he's going to be our football coach. I'll do everything I can to make sure that he is."